NICE Systems Ltd. (Nasdaq: NICE; TASE: NICE) financial transaction monitoring software unit NICE Actimize said today that Russian financial regulators have deployed its system for market surveillance.
The federal executive body regulating the Russian Federation’s financial markets, Federal Financial Markets Service (FFMS), has deployed NICE Actimize’s solution. According to NICE Actimize, the FFMS has already uncovered suspect activity from its implementation of the Actimize Market Surveillance solution, which includes compliance monitoring for equity, fixed income, futures and other securities and trading products.
The FFMS currently monitors tens of millions of orders daily from the two primary Russian exchanges, the Moscow Interbank Currency Exchange (MICEX) and the Russian Trading System (RTS), involving some one million executions. The FFMS sought the Actimize Market Surveillance solution in its efforts to enforce a new Russian Federal Law to prevent abuse of inside information and market manipulation. The new law is expected to go into effect in January. The law is intended to reinforce market integrity and transparency in Russian financial markets.
FFMS head Mr. Milovidov, said that in the two weeks since going live with the solution, "We have already identified three potential wash trade cases that we are currently investigating.”
NICE Actimize’s market surveillance solutions are used by the largest European and American financial institutions and regulators to increase their insight into suspicious behavior and to improve risk and compliance management.
Published by Globes [online], Israel business news - www.globes-online.com - on December 2, 2010
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